As it happened: World reacts to death of Queen Elizabeth II; Anthony Albanese, Peter Dutton pay tribute

The Commonwealth Bank, National Australia Bank, ANZ Bank and Bendigo and Adelaide Bank are passing on this week’s official interest rate rise to mortgage customers in full, the lenders said on Friday.

After several days of silence from the big four about their interest rates following Tuesday’s 0.5 percentage point increase from the Reserve Bank, NAB was the first to move on Friday, saying home loan interest rates would increase by 0.5 percentage points.

ANZ, CBA and Bendigo followed soon after, also announcing a 0.5 percentage point move. All four banks said the increases would take effect from Friday next week.

Amid predictions that banks’ profit margins are getting a major boost from the limited pass-through of rising interest rates to savings accounts, ANZ, NAB and Bendigo did not announce any changes to deposit interest rates.

Welcome to your five-minute recap of the trading day and how the experts saw it.

The numbers: The Australian sharemarket finished higher on Friday to snap a two-week losing streak as the mining sector posted its biggest rally since late April.

The ASX 200 closed 0.7 per cent, or 45.5 points higher at 6894.2, with materials stocks gaining more than 3 per cent. The market was lifted largely by a strong performance from heavyweight BHP, which gained 3.17 per cent.

The positive finish took the market’s weekly gains to 0.96 per cent, its best week since mid-August.

Technology stocks rose for the fourth straight day while consumers slumped 1.24 per cent on a mixed day across the categories.

Hundreds of people have gathered on the grass slopes and paved forecourt of Parliament House to watch the 96-gun salute for the Queen.

One cannon blast every ten seconds means the salute will last for about 16 minutes, and politicians including speaker of the house Milton Dick and NDIS Minister Bill Shorten are among those gathered to watch the cannons being shot.

National Australia Bank and ANZ Bank are passing on this week’s official interest rate rise to mortgage customers in full, the two banks said on Friday, but savings rates were still under review.

After several days of silence from the big four about their interest rates following Tuesday’s 0.5 percentage point increase from the Reserve Bank, NAB was the first to move on Friday, saying home loan interest rates would increase by 0.5 percentage points.

ANZ followed soon after, also announcing a 0.5 percentage point move. Both banks said the increases would take effect from Friday next week.

Amid predictions that banks’ profit margins are getting a major boost from the limited pass-through of rising interest rates to savings accounts, neither ANZ nor NAB announced any changes to deposit interest rates.

Politicians and members of the public have been queuing at Parliament House in Canberra to write condolence messages following the death of Queen Elizabeth II.

A large bunch of fragrant yellow wattle, cards from children and a bottle of zero-alcohol beer were among the tributes left outside the building as people gathered ahead of the 96-gun salute that will begin at 5pm.

Members of parliament, including Attorney-General Mark Dreyfus and Liberal senator Linda Reynolds, were among those writing condolences in the marble foyer at Parliament House on Friday afternoon.

Outside the building, people queued to add their thoughts to the condolence book as well.

The statistics tell the story: one billion users now spend, on average, 52 minutes a day scrolling through addictive content hosted by a company more valuable than Coca-Cola.

TikTok, the $200 billion app that began in 2017 by fusing videos with lip-syncing teens, is now the world’s most valuable start-up and fast becoming its most scrutinised digital empire.

On Thursday, Mathias Dopfner, the chief executive of global publishing giant Axel Springer, called for the Chinese-owned app to be banned by all democratic governments.